Han Shuo Technology successfully launched its IPO on the Shenzhen Stock Exchange, raising significant funds to enhance its market presence in the burgeoning AIoT retail sector.

Target Information

On March 11, 2025, Han Shuo Technology made its debut on the Shenzhen Stock Exchange's Growth Enterprise Market, marking a significant milestone as the first IPO in the digital store solutions sector within A-shares. The company's share price surged by 187.93% on its first trading day, elevating its market capitalization to over 30 billion RMB. Recognized as a leader in the intelligent retail sphere powered by IoT technology, Han Shuo's self-developed HiLPC communication protocol is globally acknowledged. The company's electronic price tags have maintained a market share among the top three worldwide for three consecutive years, achieving revenues of 4.486 billion RMB in 2024, with a compound annual growth rate of 41% from 2021 to 2024.

This successful IPO not only underscores the global competitiveness of China's AIoT intelligent retail sector but also signifies a shift in the industry from hardware-centric solutions to an all-encompassing intelligent IoT platform, aimed at accelerating the globalization and penetration of retail intelligence.

Industry Overview

The landscape of the digital retail industry in China reflects a robust trajectory propelled by advancements in IoT technologies. Han Shuo Technology, as a pioneering vendor in IoT retail hardware, began its journey during the